Are you planning on building a house in Sydney?
With so many variables going into the design of a new house, it can be tough to know everything about how much it costs to build a house in Sydney.
But if you think you can’t get into your dream home on a budget, think again. According to a RealEstate.com.au article, pricing starts at $1,550 for basic finishes, up to $4,400 for custom-built, so there are possibilities no matter your budget.
However, when you start with the basics, most experts will be able to give you a ballpark figure from which to start working. If you want to get into a home on a budget, then you can expect pricing around Sydney to sit somewhere between $1,550 sqm for a house with basic finishes, up to $4,400 for custom built.
Your building design can double or triple the cost of building a house in Sydney
Architecturally designed homes will set you back a little more, with the minimum price for getting you in the door coming in at $2,200 and going up to $5,399 per sqm as an average. It’s important to note that these figures do not factor in design cost, planning permits, or site works.
Forecasts have shown that the population growth around Sydney will require 725,000 additional homes over the next 20 years (source). Because of new housing regulations and a booming population, a funny thing has been happening in Australia in recent years; houses are getting bigger, while lot sizes have been shrinking.
Houses built in the last decade have increased in size by 30%, with block sizes averaging 474 sqm across the nation; which is a more compact size than the 600 or 700 sqm blocks which were common three decades ago.
With new regulations allowing house frontage to be situated closer to roads and use up space closer to property boundaries, it’s possible to put a house on 300 sqm lot that is only 3m from the road. The Australian dream of a large block of land, complete with Hills Hoist and a garden, has adjusted to accommodate smaller paved frontages, more indoor living space, and covered outdoor areas.
Key factors to consider when building a new home in Sydney
The single most significant cost to building a new home in Sydney is the price of the land, with average land prices around Sydney valued at $1,000 per sqm. Other factors affecting the final payout figure include quality, timeframe, design complexity, and site considerations such as land, type of soil, and access to services, such as electricity, sewer, and telephone.
Buyers have a lot of control over many of these factors, but site considerations often leave their hands tied. Sloping land may need to be levelled, and designs may need to be adjusted to accommodate the shape of the block.
Local council regulations can also affect the final design and cost of the build.
More homeowners are now using a Sydney building estimation service
With so many variables to consider, most people choosing to build a new home are often left confused due to their lack of experience in the industry. In these situations, a Sydney building estimation service can help.
Professional building estimation services help you take the guesswork out of what a build should cost.
Knowledge is power, and the safest way for Sydney home builders to start their journey is with a firm figure in hand before they start connecting with architects and builders. This strategy eliminates the risk of dealing with builders who inflate prices because they think you don’t know any better, putting thousands of dollars back on the table for you to work with, and helping you stay within your budget.
In the Top 3 Spotlight today
Newin Building Estimating Services – Hai Nguyen
Hai Nguyen have taken his 10+ years’ experience in the construction industry to form Newin Building Estimating Services, which operates in both Melbourne and Sydney.
Hai is passionate about helping their clients avoid the heartaches and financial difficulties caused by inaccurate construction cost estimates and overpriced builders. Hai and his team can provide a flexible and customised budget analysis of individual sites or multi-stage projects in either residential, commercial or industrial sectors of the industry.
See Top 3 Local Choice profile
Inspired Property Group – Simon Wilkins
Simon Wilkins is the Director and Property Consultant here at Inspired Property Investing. Simon has a passion for Property Investing and has built his own portfolio here is Australia over the last 5 years.
He is committed to educating and guiding his clients to help them successfully invest across Australia. So whether you are new to property, looking to buy a new home or wanting to grow your investment property portfolio, Inspired Property Group is a great local choice to start a no-obligation conversation with.
See Top 3 Local Choice profile
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